Caritas Philippines has raised alarms over the Maharlika Investment Corporation’s (MIC) decision to grant a USD 76.4 million bridge loan to Makilala Mining Company Inc., calling it a betrayal of public trust.
Manila Bulletin reported that the Catholic Church’s social action arm urged the government to reconsider the loan, arguing that it contradicts the Maharlika Fund’s supposed goal of sustainable economic growth.
The loan will finance the Maalinao-Caigutan-Biyog Copper-Gold Project in Kalinga, supporting feasibility studies and compliance with financial requirements under the country’s mineral production sharing agreement.
Caritas Philippines has long opposed large-scale mining, citing documented cases of indigenous communities losing their ancestral lands, suffering from polluted water sources, and enduring the long-term effects of environmental damage.
Caritas Philippines warned that funding extractive industries could harm local communities, accelerate environmental degradation, and threaten responsible resource management.
He criticized the government for directing public resources into projects linked to deforestation, displacement, and human rights violations instead of prioritizing sustainable industries.
Vice president Bishop Gerardo Alminaza echoed these concerns, questioning how progress could be achieved by supporting activities that destroy natural resources.
The group also called on the government to realign investments toward projects that uphold human dignity, protect natural resources, and foster long-term community development.
As the debate over the Maharlika Fund’s priorities continues, Caritas Philippines urged citizens to demand transparency and accountability in how public funds are used.
